Matt Stark

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In this Pinnacle Post interview, Matt Stark - co-founder of Stark Property - shares his journey from local beginnings to becoming a driving force in Hamilton’s commercial and residential development. Matt discusses his philosophy on sustainable building, the challenges of revitalising city spaces, and the importance of community-focused design. Whether you’re interested in property investment, urban renewal, or Waikato’s growth, this interview offers valuable insights from one of New Zealand’s most innovative property leaders.

Q: What did you want to be when you were growing up?

A: From about six years old, I always wanted to be a builder. I was probably drawn to building because of the hard work, physical work, and outside work. I wasn't great at school and had probably checked out of it because I was so driven on being a builder. Subjects like English didn't carry much weight for me; I just needed simple mathematics. It's quite crazy because most of my family weren't in construction except for my grandfather who was a concrete layer. Looking back, I could have gone down a different pathway if I didn't have caring parents guiding me.

Q: Fast forward, you're a bit of a Hamilton icon and some people would say that you're single-handedly transforming the city.

A: I have a very good team. We started doing things in the city 12 or 13 years ago, solely focusing on being positive towards the CBD. This created a "Hamilton thing" and gave confidence to other people. You've seen cool developments such as Union Square from Fosters, who are huge contributors, and Black and Orange who are doing some incredible buildings. In addition, we also have a sophisticated iwi called Tainui Group Holdings who equally do fantastic things. It makes it easier when more people are playing and trying to contribute to the built form.

Hills Commercial - three levels and 1500spm of commercial space. Located on Grey Street in Hamilton East.

Q: How did you get into property development? Why did you choose it?

A: I trained as a builder from 16 to 20 and then went to the UK for my OE (Overseas Experience), where my parents were living and running a business. I worked on construction sites, and it just opened my eyes to the world of different big cities. I always had a bit of a creative bend - wanting to create, make, and see things happen, so when I came back, I bought some residential properties and started to cut my teeth on that.

I got into a little bit of trouble around 2005-2007 because I bought some sections on the river, and then the GFC (Global Financial Crisis) happened. They were worth half the price I paid for them. I had to learn from the "school of hard knocks" and nearly went broke. That taught me a massive lesson on tenacity and never giving up. Sometimes when you experience that pain, especially when you're young and a bit cocky, it's a good reminder that humility is a really important part of the process. You can lose sight of that when you're doing all these things and thinking you're something special, but we're just people trying to put one foot in front of the other each day. It also taught me to skill up on due diligence, understanding value, and problem-solving, because in any business, especially property, there are always problems and there is always risk. Learning to turn that risk into opportunity is something I've learned a lot about over the last 15-20 years.

Sometimes when you experience that pain, especially when you're young and a bit cocky, it's a good reminder that humility is a really important part of the process.

Q: Post-GFC, did you go back into residential, or did you go straight to commercial?

A: From 2008 to the end of 2011, I literally had no money; I'd basically gone broke and lost everything. I had a ride-on lawnmower so mowed lawns and was back on the tools doing the odd building job such as bathroom renovations, but I didn't want to start a building company.

I always had an eye on commercial property and would dream of how to buy a commercial building with no money. I put offers on a couple of buildings but couldn't get finance or people to believe in me - in hindsight I had no idea what I was doing. Eventually my mate Ido and I bought the old AMI building, which is now the Urban Homes building. Mike Neale, the real estate agent, strongly recommended that I should buy it, so I convinced a younger cousin, who had just sold a business for half a million dollars, to lend me money. Another cousin also believed in me which resulted in two of my cousins putting in $300k and $200k. We bought the building, but it was hard to lease, and it took a long time to get the first tenant. The bank gave us 28 days' notice because we hadn't met the criteria for getting tenants and then suddenly, we found Robertson Fulton, who were accountants, and got them in. It was a bit of history repeating itself, with the same PTSD feeling from the GFC. About a year later, we finished the building, sold it for a great profit, and I bought the building a couple of doors down, convincing my in-laws to put money into that one. Through this process, I met another family who became and still is my main investor, which has really helped with the certainty of finance.

I always had an eye on commercial property and would dream of how to buy a commercial building with no money. I put offers on a couple of buildings but couldn't get finance or people to believe in me - in hindsight I had no idea what I was doing.

Q: Did you always have that passion to transform Hamilton?

A: Yes, believing in a place like Hamilton has been quite fun. It often gets knocked around, with people asking why you'd live in Hamilton, but there's something special here. The people here are a really cool bunch, and our importance to the nation is quite incredible. I think most people, including city leadership, don't look big enough at what we could become.

Believing in a place like Hamilton has been quite fun. It often gets knocked around, with people asking why you'd live in Hamilton, but there's something special here.

We have land, food, fertile soils, the biggest water reservoir flowing through the centre that effectively feeds Auckland, and other incredible natural resources in addition to beaches like Raglan that’s 45 minutes away, or Mount Maunganui which is an hour and ten minutes away. We underestimate the power, sophistication, and impact we could make.

My mission is for every person who has had a connection with Hamilton to come back and want to live here again. People like Jesse Mulligan, James McConie, and the Between Two Beers guys, who grew up here, have a fondness for Hamilton. Families like the Gallaghers, Perrys, and Plaws have set the platform for us to continue the legacy of making Hamilton a great place and I feel privileged to play a part in it.

Coming back from the UK reignited my passion for Hamilton because I was schooled and grew up here from the age of four. I wanted to live here, and I thought, "If I'm going to live here, how do we make this better? How do we continue to contribute?". My skill was building and creating things, so that was the sole desire. I maybe had a pipe dream that I could impact the CBD, but I never thought we'd be doing what we do today, especially doing some of the largest deals in the city. But we committed and doubled down on it.

Still, I’m just a kid who can’t spell to save himself and struggles with writing emails - but those challenges don’t define me. We all have struggles; sometimes we hold onto them like they’re our Achilles heel. But you’ve got to harness your strengths and surround yourself with a team that complements your weaknesses. I can remember numbers like the back of my hand, and I've got a memory like nothing else. I can communicate with people, and while I'm not a great public speaker, I've learned to do it. To achieve success, you need key people around you that you can trust - a high level of trust is huge. This applies from our investment side right through to our staff.

Still, I’m just a kid who can’t spell to save himself and struggles with writing emails - but those challenges don’t define me. We all have struggles; sometimes we hold onto them like they’re our Achilles heel. But you’ve got to harness your strengths and surround yourself with a team that complements your weaknesses.

Q: It seems to be a common lesson to ensure that you know your strengths and get people to complement your weaknesses.

A: Totally. I don’t journal; I don't write anything down, but my team documents things. I like to think I have a memory like an elephant. I've learned to cope with pressure and problem-solving, though I still get stressed and feel emotions. It's like anything such as sport - you get fitter in those areas. If you put me in my current standing 15 years ago, I would have wilted. It takes time, and I'm constantly learning, but I learn differently. I'm not a big reader, I listen to the odd podcast, but I'm a bit of a dreamer. Sometimes I just daydream and walk around the city, imagining what buildings could be. For example, with the Kmart building (now Tristram Precinct), which is one of our biggest deals, when I was 13 or 14, I wanted to put a rooftop mini-putt golf course on it. A lot of the buildings I own today are dreams I've had from walking past them. Riverbank Lane - when it was Riverbank Mall, I dreamed of having little eateries there years before owning it. The reality looks different from my original dream; we didn't put a golf mini putt on Kmart, but we did other things.

A lot of the buildings I own today are dreams I've had from walking past them. Riverbank Lane - when it was Riverbank Mall, I dreamed of having little eateries there years before owning it.

Riverbank Lane - one of Stark Property’s many elegant developments.

Q: Would you say you have a high appetite for risk?

A: If you tried to dissect my brain today, it would probably blow most people apart! My wife would definitely say I have a high appetite for risk - though she understands it, because she has one too. But we’re not reckless; I think it’s a trained ability.

At any given time, we might have three or four personal projects and 20 or 30 business projects on the go. Over time, your capacity for understanding and de-risking things just grows. What seems risky to me now might not seem risky to someone else, and what I find risky could feel overwhelming to someone who’s just starting out.

The key is making sure the risks you take are appropriate for your skill set and your team at that moment, so they don’t actually feel risky. It’s like saying, “I’m going to run a marathon tomorrow with no training and finish in three-and-a-half hours” - that’s genuinely risky, and you’d probably fail or get injured.

Q: How do you deal with economic downturns?

A: As businesses mature, you learn to insulate yourself from the worst of it. For us, that means making sure we have enough capital set aside. The last 36 months have been challenging; we’ve kept delivering projects, but it’s been tight. Someone once told me, “Never do a project where you have a gun to your head”- meaning don’t put yourself in a position where you must sell by a certain date or risk going under. Back in 2006–2008 in residential, I had to sell sections by set dates because otherwise there was no cash flow - that experience pushed me into commercial property.

Someone once told me, “Never do a project where you have a gun to your head”- meaning don’t put yourself in a position where you must sell by a certain date or risk going under.

Now I’ve built a portfolio that’s a real cashflow engine - it pays me every month. If interest rates go up, it’s tough and demoralising, but at least you don’t go broke. As our business has grown, we’ve put disciplines in place to keep debt at sensible levels. That doesn’t mean you can’t take risks or seize opportunities - they just need to be calculated ones. We’re building for the long term; my goal is a generational investment portfolio. I’m 43 and not looking to retire at 50 - it’s just about taking one step after another.

Made - a bustling hub of retailers, foodies, creators, and artisan vendors. Located on Grey Street in Hamilton East.

Q: How do you spot deals and opportunities? Has it been a skill you've acquired over time?

A: It comes down to being close with your networks and knowing what’s coming up - I’ve bought a lot of properties off-market because of this. When something comes up, we know our market so well that we can quickly tell if it’ll work or not. Sometimes things don’t work out and when they don’t, you need to fail quickly and adapt.

Like any skill, spotting opportunities improves with practice: it's the “10,000-hour thing.” When we bought our first home, we went through 100 open homes! You just have to immerse yourself in it. In Hamilton especially, we pour so much time and energy into understanding the market and I like to think I’m the hardest worker out there. Maybe I don’t work quite as hard as I used to, but it still consumes my thoughts. We’ve chosen to stay local because my ambition isn’t about building a multi-billion-dollar company; it’s about doing good things for Hamilton and leaving it better than we found it.

Q: Looking back, what are the key decisions or moments that shaped your career significantly for success?

A: Never giving up, learning what tenacity is, and actually doing the hard stuff. Work longer and harder than anybody else, push through when it's painful, and surround yourself with really good people. I've had some cool moments, such as having lunch with Alan Gibbs, who's an artist at picking a deal, or spending a day with Mitch Plaw, who's a real talent picker. As a 16-year-old chippy, turning up at 7am on a frosty morning to pick up gib sheets taught me if I did the jobs I didn't want to do really well, I'd stop doing the crap jobs quickly. People see talent quickly and recognise a kid who goes hard and never puts their hand out for anything. I'm a big believer that people should work hard and earn their own way because there's nothing stopping anybody from doing whatever they want. We're so privileged in New Zealand and the Western world.

As a 16-year-old chippy, turning up at 7am on a frosty morning to pick up gib sheets taught me if I did the jobs I didn't want to do really well, I'd stop doing the crap jobs quickly. People see talent quickly and recognise a kid who goes hard and never puts their hand out for anything.

My privilege was having two great parents who championed me and never put a glass ceiling over me. I didn't come from wealth, and I didn't borrow much money from my parents. They might have given us $50,000 towards our first home, but I lost it all at 23-24, so I wasn't getting a second bite at the cherry - I had to make my own way.

Q: Many development companies, especially part time “mum and dad" developers, popped up around 2021 and aren't succeeding now. What has enabled you to stay afloat, succeed, and grow since your early hiccup?

A: It's like me thinking electrical engineering is a great idea and jumping into it part-time after reading a few books. When it gets hard, I wouldn't be good at it. I've chosen to dive deep into property, make it my full-time gig, and fully immerse myself to become a master. It's one thing to be perceived as doing well in an upwards market, but when the market goes sideways, that's when real talent emerges. It's no different from a winning sports team; when you're going backwards under immense pressure, those moments define you. I've constantly tried to learn how to get better at what I do. You need good people around you, but not one person will save you; you must put in the hard yards, discipline, and continually improve yourself. For me, it's the little disciplines like exercising four days a week at lunchtime. Those micro-disciplines make you a better human, and hopefully, that translates into business. I'm constantly working on strategy, questioning everything, and being "on it". It's hard to relax because I'm always thinking about it.

It's one thing to be perceived as doing well in an upwards market, but when the market goes sideways, that's when real talent emerges. It's no different from a winning sports team; when you're going backwards under immense pressure, those moments define you.

ANZAC Apartments - located in Hamilton East.

Q: What advice would you give someone who wants to get into property development?

A: Look at 100 properties and do feasibilities on 100 of them - run every single number over the next three to six months. Go to every single open home, understand what property is, and understand its values. Why does one house sell for $400,000 in Hamilton and another for $4 million somewhere else? Understand those value propositions. Talk to people, read books like Rich Dad Poor Dad. Find out what part you're struggling with and get good people to help you through it. But at some point, you have to start doing it. You can be the most knowledgeable person in the world, but if you're not prepared to do it and accept that it's flipping hard work, you won't succeed. It's not easy, and it still isn't; it just gets more complex.

But at some point, you have to start doing it. You can be the most knowledgeable person in the world, but if you're not prepared to do it and accept that it's flipping hard work, you won't succeed.

It's not just "jump in and try it out". You need to ask yourself, "Do I really want to do this, or am I better off investing in the share market or KiwiSaver?". Always ask why you're doing it. If you want to get rich, there are probably easier ways. Everyone thinks property is a quick way to get rich, and you can do pretty well, but it's like a plane: when it's ascending, it's cool, but when it goes really bad, there aren't many survivors.

Everyone thinks property is a quick way to get rich, and you can do pretty well, but it's like a plane: when it's ascending, it's cool, but when it goes really bad, there aren't many survivors.

Q: What are your career highlights and lowlights?

A: There are so many highlights. My biggest highlight was selling my first commercial property. Other highlights include when my main investors said yes to a property, when my in-laws invested and we sold that property, and when we sold Tristram precinct for $110 million. The previous largest building deal before that was $3.5 million, so doing that scale of deal when you're the underdog is pretty cool.

Lowlights include challenging situations where we built things that didn't work out. Going through the GFC was a real lowlight, but it gave me the best education ever. You probably forget about all the "punches in the nose". Recently, we missed out on a deal to sell a property to Tainui for a police station which was devastating, but six months later, we're building a private hospital on that same property that will turn it into three times the value so, a no becomes an opportunity. It's about turning problems into better outcomes, holding your head high, and being optimistic about what's next. I always try to flip negatives to positives.

It's about turning problems into better outcomes, holding your head high, and being optimistic about what's next. I always try to flip negatives to positives.

Tristram Precinct - the largest sale of a building in Hamilton at $110 million.

Q: How do you deal with stress and pressure and manage your life outside work?

A: Sometimes probably not very well. You have to switch off. Sometimes I just go for a walk, or I go to the gym four days a week at lunchtime to break up my day. It’s important to do something that gives you clarity. Having kids helps distract you. When I was younger, I used to run; I hated cross country as a kid, but it taught me discipline and perseverance. Running and exercise can just get rid of everything in your mind. Having hobbies and friends outside your business sphere also helps. One of my best mates is a pastor, and another is a nurse; we don't talk about my property stuff, just general human interaction. Those things ground you and help you de-stress. Make sure you have supportive people around you, so you can cry on their shoulder.

One of my best mates is a pastor, and another is a nurse; we don't talk about my property stuff, just general human interaction. Those things ground you and help you de-stress. Make sure you have supportive people around you, so you can cry on their shoulder.

Q: What advice would you give to someone thinking about doing an OE (overseas experience)?

A: It's great to see the world as it opens your mind and challenges you. My wife didn't do an OE; she stayed here and saved and was disciplined, so I don't think there's a right or wrong way. Don't ever think it's the only opportunity you'll get in life to do that, because life can be long.

I felt at times that being overseas and seeing another cathedral or museum was just wasting my time. It's not the be-all and end-all. I'm into it, but I probably wouldn't encourage my kids to do a traditional OE. I'd want them to do short-term things, such as volunteer work in a third-world country, giving their time for free and meeting people. It depends on your industry; if you're in the legal profession, you can get good exposure over there but each to their own, just don't waste time. Have a little bit of purpose behind it. It doesn't need to be a fully defined purpose, but purpose in your life is pretty cool.

Make good connections and maintain relationships and friendships because consistency and doing what you say you're going to do tend to lead to success in life. It's not all about me; I've been privileged to be a person who has served others, and serving people is a really cool thing to do. Working in crazy places such as a school in rural India or Nepal puts into perspective how lucky we are.

It's not all about me; I've been privileged to be a person who has served others, and serving people is a really cool thing to do. Working in crazy places such as a school in rural India or Nepal puts into perspective how lucky we are.

Q: What's next for Matt? Any big plans you can share?

A: We've got Evolution Healthcare, which is the Angelsea Hospital at Knox Street and we're tripling the size of the hospital, starting at Christmas. We have the Fonterra buildings down on Tristram Street next to Federated Farmers. We bought Federated Farmers, but we don't really have an idea of what's happening there yet. We're refurbishing a six-story office building at 18 London St, and we have a number of other residential projects. We have projects for two years ahead of us.

We're continually improving our current spaces and places, like Riverbank Lane and all the Panama locations. We want to grow Panama significantly. In general, we want to be continually promoting Hamilton in a positive light. I'd love to see a taxi boat on the river, though I don't have a project for it yet. We also want to be involved in more city living projects. But who knows where tomorrow comes, right? We take each day as it comes. We will definitely do some residential again, probably more affordable kinds, but we're not sure when or how. We have a desire for that.

Panama Square - 3000 sqm of premium co-working office and events spaces located in Garden Place, Hamilton.

Q: Some of our audience are a few years into their careers and are beginning to think about their financial futures. Do you have any wisdom or advice you could share?

A: If you want to be an entrepreneur, try as many things as you can before you get a solid income because it’s really hard to leave a job when you’re making $80k or $100k to go and do what your entrepreneurial spirit says. Try things and be a doer because there aren’t many doers in this world.

If you want to be an entrepreneur, try as many things as you can before you get a solid income because it’s really hard to leave a job when you’re making $80k or $100k to go and do what your entrepreneurial spirit says. Try things and be a doer because there aren’t many doers in this world.

Q: What advice would you give to your younger self?

A: Never give up. And never ever think you're not smart enough, or from the right family and never try to be someone else. Just be authentically you, be honest, and have integrity. Those things are so important in regional cities in New Zealand. Never lie, never make things up. I think those are the biggest things. I've tried to build my business totally on integrity and doing the right things, even when it cuts your nose off. Our business has always succeeded when we've put our hand up when we've done something wrong, whether financially or reputationally detrimental. Humility takes you a long way, so I'd promote that more to my younger self, even though I try to live by that anyway, just being authentically me.

Never give up. And never ever think you're not smart enough, or from the right family and never try to be someone else. Just be authentically you, be honest, and have integrity.

Q: If neither time nor resources were a constraint, what ultimate goal or dream would you pursue or have pursued?

A: I'd just pursue what I'm doing. I don't have this whole, "Oh, I want to do this". I think understanding that time is really precious is important. Sharing your time with others is really important too. Whatever you believe in, make sure you try and knock it out of the park. Just try and be the best of what you can be, and don't do dumb stuff. Try and be a good human, because good humans are good to be around. Working on yourself and being the best person and having humility is something I want to continue to work on. It doesn't take resources; it just takes time and working on yourself to be a better form of yourself every day. That's what I want to work on.

Try and be a good human, because good humans are good to be around. Working on yourself and being the best person and having humility is something I want to continue to work on. It doesn't take resources; it just takes time and working on yourself to be a better form of yourself every day.

About Stark Property

Stark Property is a leading force in Hamilton’s commercial and residential property development, renowned for its commitment to quality, sustainability, and community-focused design. From innovative office spaces to vibrant apartment complexes, Stark Property’s projects reflect a passion for elevating the city’s built environment while fostering lasting relationships with tenants and stakeholders.

Visit the website here: https://www.starkproperty.co.nz/